Construction.
It is one of the largest markets in the world and looks ripe for disruption from advancing information technology and machine learning. Consider:
• $10T spent per year and growing as a percent of global GDP.
• Construction productivity has declined for 30 years in many markets.
• On average, large construction projects are 80% over budget and 20 months late (McKinsey)
• Only 3% of a construction site is active, on average.

Introducing our newest investment — ALICE — through the looking glass:

“ALICE Technologies Closes Financing with Future Ventures to Drive Massive Construction Industry Efficiencies Through Artificial Intelligence

ALICE Technologies’ AI-powered construction simulation platform is already helping companies around the world generate scenarios and optimize resources for large-scale infrastructure and commercial projects. Clients have used ALICE to optimize more than $15B in construction projects in the last two quarters.

“There is no other industry wherein a customer would accept the abysmal performance numbers common to construction projects,” said Rene Morkos, founder and CEO of ALICE Technologies. “ALICE changes this equation exponentially with the introduction of AI to the $10 trillion construction segment, a market that is ripe for technology-driven change. Future Ventures understands the scale of our ambition, and our partnership with the firm will enable us to scale our services across the globe.”

“Until ALICE, a key component missing within the construction technology was the agility to create alternate execution plans quickly, which is arguably the most essential piece to improving project success factors,” said Maryanna Saenko, co-founder of Future Ventures. “With a strong executive team that integrates both AI and construction expertise, ALICE is trailblazing higher standards within an antiquated industry.”

ALICE Technologies is the world’s first AI-powered construction simulation platform. Founded in 2015 based on research from Stanford University, ALICE leverages artificial intelligence to analyze a project’s complex building requirements and generate highly efficient building schedules.” — today’s news

www.ALICEtechnologies.com

5 responses to “Infusing AI into Construction with ALICE Technologies”

  1. Duncan Rawlinson - Duncan.co Avatar
    Duncan Rawlinson – Duncan.co

    But can it solve potholes?

    Reply
  2. jurvetson Avatar
    jurvetson

    Potholes are a reminder of how much accumulated infrastructure repair is overdue in the world.

    ALICE starts with a focus on construction simulation and continuous optimization. So, as better methods of road foundation are discovered, they should be a good platform to disseminate best practices more rapidly.

    And they leverage the latest hardware from others, e.g., in build-environment feedback (drones, scanners) and novel construction modalities (e.g., Boring TBMs).

    Here’s a short intro video.

    Reply
  3. Josh Thompson Avatar
    Josh Thompson

    I think I’ve read that there are asymmetries in the bloated costs between the US and elsewhere — the US is much worse. It suggests that there are structural problems behind some of the poor productivity (the nature of union labor in the US? something to do with how gov’t projects are funded?). So I hope this type of innovation can help but it might not be the whole story.

    Reply
  4. jurvetson Avatar
    jurvetson

    Latest news… ALICE Technologies Names Phil Carpenter CMO and Katie Bond VP of Customer Success.

    I knew Phil Carpenter from undergrad days!

    Reply
  5. jurvetson Avatar
    jurvetson

    And today: "With this news, ALICE now offers both pre-construction and project management solutions that deliver an end-to-end AI-powered construction simulation platform to help large scale infrastructure and commercial projects optimize all resources from time of bid to completion.

    ALICE Manage solves the inevitable variability of construction projects and gives teams the ability to reschedule quickly and efficiently during a job. With Manage, firms can create new estimates, manage cost variance through data-driven decisions, deliver projects faster while on budget, and efficiently control the project’s schedule.

    “Since day one, ALICE has been building for this moment. With the introduction of Manage, ALICE now brings the power of AI to the full project lifecycle, from pre-construction through project management,” said René Morkos, CEO and Founder, ALICE Technologies. “With ALICE, contractors can develop an ideal project plan and easily tune that plan during the build based on changing circumstances. Our vision is to reduce global construction costs by 25%, and the introduction of Manage gives contractors the stem-to-stern project planning and management capability that can make this vision possible.”

    Reply

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